Rand buoyed by favourable external factors

While political tensions brew on Twitter and across the Pacific, uncertainty around what the US will do next seems to be backing the rand favourably.

The UK has also issued an emergency statement alert which sent the pound tumbling. There are many rumours doing the rounds so best to watch developments closely on that front.

France is also worth keeping an eye on from the international front. Voter despondency seems to have settled in on the French so the vote could swing any which way. While several polls are predicting a Macron win, events such as Brexit and the US elections last year indicate that a ‘wait and see’ approach is probably best.

Back home, political tensions seem to have mellowed down. The vote of no confidence postponed due to the UDM’s application with the ConCourt for a secret ballot.

New Finance Minister, Malusi Gigaba, is in the US this week for an investor roadshow.